Latin America and the Caribbean: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in Latin America and the Caribbean

The Latin American plastics in primary forms market fell to $X in 2023, approximately reflecting the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Production of Plastics in Primary Forms in Latin America and the Caribbean

In value terms, plastics in primary forms production amounted to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Exports of Plastics in Primary Forms

Exports in Latin America and the Caribbean

In 2023, approx. X tons of plastics in primary formses were exported in Latin America and the Caribbean; reducing by X% compared with 2022 figures. Over the period under review, exports showed a noticeable setback. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports remained at a lower figure.

In value terms, plastics in primary forms exports contracted dramatically to $X in 2023. In general, exports continue to indicate a noticeable decline. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Brazil (X tons), distantly followed by Colombia (X tons), Mexico (X tons) and Argentina (X tons) were the key exporters of plastics in primary formses, together generating X% of total exports. The following exporters - Peru (X tons) and Chile (X tons) - each reached a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Colombia (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Brazil ($X), Colombia ($X) and Mexico ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Among the main exporting countries, Colombia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2022, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Colombia (X%), while the other leaders experienced more modest paces of growth.

Imports of Plastics in Primary Forms

Imports in Latin America and the Caribbean

In 2023, imports of plastics in primary formses in Latin America and the Caribbean contracted slightly to X tons, with a decrease of X% compared with the year before. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, plastics in primary forms imports fell remarkably to $X in 2023. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Mexico (X tons) represented the major importer of plastics in primary formses, mixing up X% of total imports. Brazil (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Peru (X%), Colombia (X%) and Argentina (X%). Chile (X tons), Guatemala (X tons), Ecuador (X tons), the Dominican Republic (X tons) and Costa Rica (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for the Dominican Republic (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastics in primary forms importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Peru ($X), with a combined X% share of total imports. Colombia, Argentina, Ecuador, Chile, Guatemala, the Dominican Republic and Costa Rica lagged somewhat behind, together comprising a further X%.

Among the main importing countries, the Dominican Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Costa Rica (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform